Spirit of America Management Corp NY Sells 18,500 Shares of Kinder Morgan, Inc. $KMI

Spirit of America Management Corp NY decreased its stake in shares of Kinder Morgan, Inc. (NYSE:KMI) by 6.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 265,244 shares of the pipeline company’s stock after selling 18,500 shares during the quarter. Kinder Morgan makes up 1.5% of Spirit of America Management Corp NY’s portfolio, making the stock its 11th largest position. Spirit of America Management Corp NY’s holdings in Kinder Morgan were worth $7,509,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Kinder Morgan during the second quarter valued at approximately $1,162,802,000. 59 North Capital Management LP purchased a new position in Kinder Morgan during the 1st quarter worth $195,658,000. Merewether Investment Management LP bought a new stake in Kinder Morgan during the 2nd quarter valued at $138,477,000. Marshall Wace LLP lifted its holdings in shares of Kinder Morgan by 364.8% in the 2nd quarter. Marshall Wace LLP now owns 4,165,348 shares of the pipeline company’s stock worth $122,461,000 after buying an additional 3,269,284 shares during the period. Finally, Vanguard Group Inc. grew its position in shares of Kinder Morgan by 1.5% during the 2nd quarter. Vanguard Group Inc. now owns 207,219,481 shares of the pipeline company’s stock worth $6,092,253,000 after buying an additional 3,070,609 shares in the last quarter. 62.52% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on KMI shares. Mizuho lowered their price objective on shares of Kinder Morgan from $32.00 to $31.00 and set an “outperform” rating for the company in a research note on Friday, November 14th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Kinder Morgan in a research report on Wednesday, October 8th. UBS Group reiterated a “buy” rating and set a $38.00 price objective on shares of Kinder Morgan in a research note on Friday, December 12th. Scotiabank reduced their price objective on shares of Kinder Morgan from $28.00 to $27.00 and set a “sector perform” rating for the company in a research note on Friday, September 19th. Finally, Royal Bank Of Canada upped their price objective on Kinder Morgan from $28.00 to $30.00 and gave the stock a “sector perform” rating in a research note on Thursday, November 13th. Nine analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $31.20.

Insider Buying and Selling at Kinder Morgan

In other news, Director Amy W. Chronis acquired 3,800 shares of the business’s stock in a transaction dated Friday, October 31st. The shares were acquired at an average cost of $26.23 per share, with a total value of $99,674.00. Following the completion of the acquisition, the director owned 39,051 shares of the company’s stock, valued at approximately $1,024,307.73. This trade represents a 10.78% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Chairman Richard D. Kinder bought 1,000,000 shares of the firm’s stock in a transaction that occurred on Monday, October 27th. The shares were purchased at an average cost of $25.96 per share, with a total value of $25,960,000.00. Following the acquisition, the chairman directly owned 246,212,353 shares of the company’s stock, valued at approximately $6,391,672,683.88. This trade represents a 0.41% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last 90 days, insiders have bought 1,004,287 shares of company stock worth $26,072,463 and have sold 18,498 shares worth $511,655. Company insiders own 12.73% of the company’s stock.

Kinder Morgan Stock Performance

Shares of Kinder Morgan stock opened at $27.11 on Friday. The company has a 50 day moving average price of $26.80 and a 200 day moving average price of $27.28. The firm has a market capitalization of $60.30 billion, a P/E ratio of 22.22, a PEG ratio of 2.38 and a beta of 0.67. The company has a quick ratio of 0.49, a current ratio of 0.63 and a debt-to-equity ratio of 0.98. Kinder Morgan, Inc. has a 52 week low of $23.94 and a 52 week high of $31.48.

Kinder Morgan (NYSE:KMI) last issued its quarterly earnings results on Wednesday, October 22nd. The pipeline company reported $0.29 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.29. Kinder Morgan had a net margin of 16.61% and a return on equity of 8.57%. The business had revenue of $4.15 billion for the quarter, compared to analyst estimates of $3.98 billion. During the same quarter in the prior year, the business posted $0.25 EPS. Kinder Morgan’s revenue for the quarter was up 12.1% compared to the same quarter last year. Kinder Morgan has set its FY 2025 guidance at 1.270-1.270 EPS. Sell-side analysts expect that Kinder Morgan, Inc. will post 1.25 EPS for the current year.

Kinder Morgan Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, November 17th. Shareholders of record on Monday, November 3rd were given a dividend of $0.2925 per share. The ex-dividend date of this dividend was Monday, November 3rd. This represents a $1.17 dividend on an annualized basis and a yield of 4.3%. Kinder Morgan’s payout ratio is currently 95.90%.

About Kinder Morgan

Kinder Morgan (NYSE: KMI) is a large energy infrastructure company that owns and operates an extensive network of pipelines and terminals across North America. Its core activities center on the transportation, storage and handling of energy products, including natural gas, natural gas liquids (NGLs), crude oil, refined petroleum products and carbon dioxide. The company’s assets include long-haul and gathering pipelines, storage facilities, and multi-modal terminals that serve producers, refiners, utilities and industrial customers.

Kinder Morgan’s operations deliver midstream services such as pipeline transportation, terminaling, storage and related logistics and maintenance.